K&L Gates Advised Federated Hermes On The Strategic Acquisition Of FCP Fund Manager LP
K&L Gates advised Federated Hermes on the strategic acquisition of FCP Fund Manager LP
The leading global law firm, K&L Gates LLP, served as legal counsel to Federated Hermes, Inc. (NYSE: FHI) in its agreement to acquire a majority stake in FCP Fund Manager LP, a privately held real estate investment manager headquartered in Chevy Chase, Maryland.
The transaction, expected to close in the first half of 2026 pending regulatory approval and customary closing conditions, marks Federated Hermes’ second private markets acquisition in 2025, following its April purchase of Rivington Energy Management. The deal underscores the firm’s continued expansion into alternative asset classes.
FCP specializes in US multifamily real estate, deploying both equity and select debt strategies. Since its founding, the firm has invested in, operated, or financed more than US$14.6 billion in gross asset value, including over 75,000 apartment units. Its team of more than 75 professionals will continue to manage the business from its six US offices, maintaining deep coverage across 19 high-growth metro areas.
The K&L Gates team was led by Brent Williams (Partner, Chicago), with relationship partners Clair Pagnano (Leader, Global Asset Management and Investment Funds Practice) and Michael Caccese (Firm Co-Chair).
“This acquisition underscores Federated Hermes’ strategic commitment to expanding its private markets platform and strengthening its position in real estate investment management. We’re proud to be advising Federated Hermes on this transaction with FCP and look forward to a successful closing and supporting their continued success in this dynamic space,” said Clair Pagnano, Partner at K&L Gates.
“On behalf of Federated Hermes, we would like to thank K&L Gates for their expert advice, counseling, and active support in the lead up to, and execution of, the definitive transaction agreement between Federated Hermes and FCP Fund Manager LP. We look forward to continuing to work with K&L Gates towards a successful closing of the transaction,” said George Magera, General Counsel, Federated Hermes.
K&L Gates is a fully integrated global law firm with lawyers located across five continents, in more than 45 offices in key capital cities and world commercial and financial centers. It represents a broad array of clients, including multinational corporations, growth and middle-market companies, and public sector entities, in every major industry group.
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